From President to Powerhouse: Gunjan Kedia Set to Lead U.S. Bancorp as New Chief Executive

U.S. Bancorp is orchestrating a major leadership shift, with President Gunjan Kedia stepping into the role of chief executive officer following the company’s annual shareholder meeting on April 15. The move marks a significant milestone for the financial services giant, which boasts $678 billion in assets and a workforce exceeding 70,000 employees.

Kedia, 54, has been instrumental in shaping U.S. Bancorp’s strategic direction since joining the organization in 2016. Her trajectory through the company’s executive ranks showcases her expertise in revenue generation and operational excellence. She arrives with nearly three decades of experience in global financial services, having held senior positions at State Street Financial, BNY Mellon, and consulting firms McKinsey and Company and PwC. Her contributions to the banking industry have earned her seven recognitions on the American Banker Most Powerful Women in Banking and Finance lists, alongside two spots on Barron’s 100 Most Influential Women in U.S. Finance.

Andy Cecere’s Next Chapter: From CEO to Executive Chairman

Andy Cecere, 64, will transition into an executive chairman position, maintaining oversight of the board while supporting Kedia’s entry into her new role. His nearly 40-year tenure at U.S. Bancorp reflects a commitment to institutional growth and modernization. During his eight-year stint as chairman and CEO starting in 2017, Cecere steered the company through significant technological transformation, pandemic-era challenges, and strategic acquisitions—most notably the Union Bank integration that strengthened U.S. Bancorp’s footprint in California.

The leadership succession exemplifies what the company’s board identifies as a hallmark approach: deliberate, internally-focused talent development. Rather than seeking external candidates, U.S. Bancorp elevated an executive already embedded in its culture and operations, signaling confidence in institutional continuity blended with fresh strategic direction.

Building on Solid Foundations

Kedia has articulated her vision for the company’s future, emphasizing integrity and sustainable growth. Her educational background—an MBA with distinction from Carnegie Mellon University and an engineering degree, also with distinction, from the Delhi School of Engineering—reflects a blend of technical and business acumen. Beyond her corporate roles, she serves on the boards of PBS, American Red Cross, and Carnegie Mellon Business School, demonstrating broad community engagement.

The three-month transition window between now and April 15 will allow both executives to collaborate closely, ensuring a seamless handoff. U.S. Bancorp’s leadership structure underscores how major financial institutions manage succession through deep internal talent pools rather than disruptive external appointments, setting the stage for Gunjan Kedia’s tenure leading one of America’s most significant superregional banks.